Request for Comments "Real Estate Workshop" #00050

Submission Number:
00050
Commenter:
BillC
Organization:
State:
Florida
Initiative Name:
Request for Comments "Real Estate Workshop"
Dear Commission, As one realtor puts it, "The longer you're on the market, the lower your offers will be, if you get any offers at all. Most Multiple Listing Services (MLSs) keep track of your Cumulative Days on Market (CDOM). Your CDOM stays with your address for 8-10 years. This is why it's so important to put yourself in the best position possible to create a sale within 30 days." Stated another way, according to this realtor, the seller has just one 30-day chance to sell his home without interference. After 30 days, the MLS will forever interfere with his sale, calling his home "stigmatized" and "flawed". After perhaps 60 days, it's game over. His $1 million in equity is gone. Question: Why would the MLS, an advertiser legally obligated to the seller, want to be certain that the world knows that his home is a wallflower? Why does the MLS, when he asks it to delete old records, tell him to pound sand? Answer: The MLS assumes obligations in listing contracts in bad faith with the intent to defraud. For as long as database-driven MLSs have been in existence, realtor associations have used their MLSs to artificially suppress market prices. Realtors maximize their earnings by increasing monthly transactions, which requires "firesales", which requires transferring wealth from sellers to buyers, which requires some mechanism to force the seller's hand. For a realtor, on a monthly basis, it's more lucrative to sell four homes underpriced at $1.3 million than one home fairly priced at $2 million. The realtor gets a pay raise from $30k to $78k. The MLS provides realtors the convenience of not having to compel their clients to price at FMV-30% for no legitimate reason using false statements. It's much cleaner to, in the MLS database, run a time clock against the client and showcase his past marketing efforts that failed. 1. Sperry and Hutchinson. Unjustified consumer injury and unethical conduct. 2. Deceptive practices. Misrepresenting the MLS's authority. 3. Anti-trust. "Tie-in" sales limiting consumer choice. 4. Contract breach. Taking of rights without consent or consideration. 5. Torts. Intentional interference with property rights. 6. Title XVIII. Deprivation of rights. Thank you for your review.